Singapore's Inflation Reaches 14-Year High

Singapore's Department of Statistics (DSS) reported that overall inflation in September 2022 reached 0.4% compared to the previous month (month-on-month/M-to-M).

Compared to September 2021, Singapore's inflation rate reached 7.48% (year-on-year/YoY). This annual inflation reached its highest level in the last 14 years, as shown in the graph.

Cumulatively, from January to September 2022, inflation in Singapore reached 5.9% (cumulative-to-cumulative/C-to-C).

Singapore's core inflation in September 2022 was recorded at 0.55% (M-to-M) and reached 5.3% (YoY). Cumulatively from January to September 2022, the inflation rate reached 3.8% (C-to-C).

Singapore's food inflation in September reached 0.7% (M-to-M) and 6.9% (YoY). Cumulatively, it reached 6.9% (C-to-C) from January to September 2022.

Singapore's transportation inflation in September 2022 reached 0.4% (M-to-M) and 19.0% (YoY). Cumulatively, it reached 17.2% (C-to-C) during the first nine months of the year.

The rising prices of energy and food commodities also impacted Singapore. This is reflected in the annual inflation reaching its highest level since July 2008.